News Headline Summary

ECB's Asmussen says he'd be very reticent on negative deposit rates

- EU now needs single resolution mechanism.
- Creation of financial market union is critical.
- ESM can only aid banks after ECB takes up supervision.

Reaction details (11:05)

- No reaction in EUR/USD, trades 1.3275 (+45 pips) last.

Analysis details (11:05)

- Asmussen's comment on negative deposit rates is not that surprising given his general hawkish slant on monetary policy, hence limited reaction to the headline.

19 Dec 2012 - 11:00 - Forex Economic Commentary - Source: Newswires

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